S 654A(1A) inserted by No 117 of 2001, s 3, Sch 1
227] (effective 15 December 2001).
Subsection (1) does not apply to a disposal of securities by the bidder if:
(a) someone else who is not an associate of the bidder makes an offer, or improves the consideration offered, under a takeover bid for securities in the bid class after the bidder's statement is given to the target; and
(b) the bidder disposes of the securities after the offer is made or the consideration is improved.
Note: A defendant bears an evidential burden in relation to the matters in subsection (2), see subsection 13.3(3) of the